tag:blogger.com,1999:blog-4965395778439498965.post8704008569886507546..comments2024-01-02T09:19:24.322-08:00Comments on The Late Enlightenment: Regulation That Favors Big BusinessMichael Catonhttp://www.blogger.com/profile/01017910055699348111noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4965395778439498965.post-49099263354795365492012-12-20T14:57:54.279-08:002012-12-20T14:57:54.279-08:00In theory, We The People are supposed to be regula...In theory, We The People are supposed to be regulating the DOJ et al. Especially in a complex civilization this doesn't always work, but I don't have a solution there. My goal here is not to argue that "regulations often end up inadvertently favoring established big busienss, therefore we should forget the whole thing", it's just to point out that regulation attempting to restrain some activities of profit-seeking institutions end up damaging both justice and economic growth, and then neither justice- nor profit-maximizers win. Part of the problem too is that every regulating body requires experts, who are often drawn from the industry they're regulating (FDA and FAA); not sure where else we'd find them, and that's a problem you pointed to here - but of course there are predictable results. One possibility would be to have each regulation make a prediction about what effect it will have, and then some mechanism feeding back to point to the failings of bad regulators.Michael Catonhttps://www.blogger.com/profile/01017910055699348111noreply@blogger.comtag:blogger.com,1999:blog-4965395778439498965.post-71784199658691993382012-12-18T21:58:46.405-08:002012-12-18T21:58:46.405-08:00I think this topic will be a tough discussion for ...I think this topic will be a tough discussion for progressives, as the need for detailed expert regulation is poised against the inability of the layman to assess it's legitimacy.<br /><br />It's not simply about business, it's also about justice. The latest HSBC judgement has me wondering who regulates the DOJ? It seems to me that regulating the regulators could lead to infinite regression. So what works?Anonymoushttps://www.blogger.com/profile/15615753394495589714noreply@blogger.com